lots of respected market watchers saying that we may be at a high point, or that future gains may not be as robust as we've seen these last few quarters.

Well, if future gains are not as robust as you would like, they would still be gains.

Look at the charts. Are the averages moving up or down? So long as they are moving up, stay in. Nobody can predict a top, or a bottom, but you can still look at the trend. Right now it is up. That could change, but I see nothing now to indicate that.

So far as stories about people who got out and then stayed out when they should have gotten in; the fact is that some people do stupid things. Just do not be like them. There are two parts of market timing, after all: when to buy and when to sell.

A vague unquantified feeling that the market is "too high" means nothing.

In 1999 people said that the market was "too high". But it kept going up, and I made a bunch of money. I sold mid-March of 2000 with nice profits.

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